Hogs Extending Weakness to the Weekend
Lean hog futures are extending their slide, with contracts down another 65 to 82 cents at midday. USDA’s national base hog price was at $74.46 in the Friday morning report, back up $1.92 from the day prior. The CME Lean Hog Index was down another 50 cents on October 7 at $78.41.
USDA’s pork carcass cutout value was up 54 cents in the Friday AM report, at $80.18. The loin and butt were the only primals reported lower. Federally inspected hog slaughter for Thursday was estimated at 493,000 head, with the week to date total at 1.975 million head. That was 42,000 head above last week and 28,537 head larger than the same week last year.
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Oct 26 Hogs are at $75.150, down $0.675,
Dec 26 Hogs are at $67.775, down $0.825
Feb 27 Hogs are at $69.150, down $0.725,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
